CTS (NYSE:CTS) Shares Gap Down to $51.70

CTS Co. (NYSE:CTS)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $51.70, but opened at $48.52. CTS shares last traded at $48.41, with a volume of 20,019 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th.

CTS Stock Down 6.2 %

The stock has a market capitalization of $1.49 billion, a P/E ratio of 28.48 and a beta of 0.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.71. The stock’s fifty day moving average is $51.85 and its two-hundred day moving average is $47.66.

CTS (NYSE:CTS) last issued its earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $126.75 million. CTS had a net margin of 10.06% and a return on equity of 12.39%. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. As a group, research analysts predict that CTS Co. will post 2.22 earnings per share for the current fiscal year.

CTS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Friday, June 28th. CTS’s dividend payout ratio is 9.41%.

Insider Buying and Selling

In related news, SVP Martin Baumeister sold 5,733 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $52.39, for a total value of $300,351.87. Following the completion of the transaction, the senior vice president now owns 19,811 shares of the company’s stock, valued at approximately $1,037,898.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CTS news, CEO Kieran M. O’sullivan sold 27,905 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $47.11, for a total value of $1,314,604.55. Following the completion of the sale, the chief executive officer now owns 455,643 shares in the company, valued at approximately $21,465,341.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Martin Baumeister sold 5,733 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $52.39, for a total transaction of $300,351.87. Following the completion of the sale, the senior vice president now owns 19,811 shares of the company’s stock, valued at approximately $1,037,898.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,133 shares of company stock valued at $1,826,356. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On CTS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in CTS by 245.5% in the 4th quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock worth $25,000 after buying an additional 410 shares in the last quarter. Innealta Capital LLC bought a new position in shares of CTS during the 2nd quarter valued at $27,000. Central Pacific Bank Trust Division bought a new position in shares of CTS during the 1st quarter valued at $46,000. Quadrant Capital Group LLC raised its holdings in shares of CTS by 25.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after purchasing an additional 336 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new position in shares of CTS during the 4th quarter valued at $209,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

CTS Company Profile

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.